Feeds

Tiscali buys LibertySurf for E900 million

Not bad for a Monday morning

  • alert
  • submit to reddit

Remote control for virtualized desktops

Update: Italian telco and ISP Tiscali has shelled out E900 million (£570 million) in shares for European ISP, LibertySurf, the companies confirmed this morning after suspending shares first thing this morning.

LibertySurf's major shareholders - British retail corporation, Kingfisher PLC, and Euro@web, owned by the Bernard Arnault family - will receive around E235 million (£149 million) each for their share (35 per cent each) in the ISP.

Commenting on the deal, Group CE Sir Geoffrey Mulcahy said: "LibertySurf has been a successful e-commerce venture for Kingfisher.

"With the European ISP market now consolidating, today's deal enables us to realise this value created for our shareholders.

Tiscali has been actively buying ISPs in Europe and is often touted as a potential buyer whenever a major ISP comes up for sale.

Last year it bought Dutch ISP World Online. In December, it coughed up E29 million (£18 million) for German ISP, AddCom AG. It is also reportedly in the frame to buy British ISP LineOne. ®

Related Stories

LibertySurf speculation 'load of bollocks'
LibertySurf on the pull

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.